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E.ON can walk away from Innogy deal if too many assets sold - RWE

Reuters

FRANKFURT (Reuters) - E.ON (EONGn.DE) has the right to walk away from an agreed deal to break up Innogy (IGY.DE) should it sell single assets worth more than 150 million euros ($179 million) or assets worth a combined 450 million, RWE's (RWEG.DE) finance chief said.

Talking to analysts during a call on Tuesday to discuss first-quarter results, Markus Krebber said that two assets were excluded from this clause, including Npower, Innogy's British retail unit, which is to be merged with the local unit of SSE (SSE.L).

Innogy's Czech gas network activities, which have fetched interest from Macquarie (MQG.AX) and Czech investment group KKCG, are also excluded from the deal.

(Reporting by Christoph Steitz)